section 81(1a)
This query is : Resolved
ajay arora
(Querist)
28 August 2010
pls tell me the details of section 81(1a) and sebi gudelines 2009
Ankur Garg
(Expert)
28 August 2010
As per section 81(1) if a company issue new shares --- Company is required to offer these share to the existing shareholders as right shares.
However section 81(1A) is an exception to section 81(1).
Under section 81 (1A) a comapany can issue new shares to new allottee without offering to the existing shareholders. For this permission of existing shareholders is required through special resolution in GM.
However section 81(1A) is an exception to section 81(1).
Under section 81 (1A) a comapany can issue new shares to new allottee without offering to the existing shareholders. For this permission of existing shareholders is required through special resolution in GM.
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